By Benjamin Hulac, E&E reporter
The coal mining company Alpha Natural Resources Inc. is moving to sell off chunks of its business and has provided limited details about its future operations, based on plans the company submitted in court papers, the Justice Department said.
In an objection filed Tuesday, attorneys for the U.S. Trustee Program raised questions about Alphas March plan to restructure its debt and emerge from bankruptcy, taking issue with a vague business plan the firm outlined in a key bankruptcy document.
Although this case was originally represented to the court and the creditors as a reorganization, the proposed plan makes clear that the end-game here is more in the nature of [if not a complete] liquidation, the attor…
Read the full article at: http://www.wyofile.com/justice-department-alpha-planning-liquidation-not-reorganization/